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CBS Faces Investor Suit Over Ex-CEO Moonves’ #MeToo Moment

Oct. 1, 2018, 9:11 PM

CBS Corp. faces a would-be investor class action alleging the company misled shareholders by touting its anti-harassment policy before #MeToo allegations against ex-CEO Les Moonves became public.

CBS should’ve told investors about the allegations against Moonves, especially after the company extolled his leadership and its ethical conduct standards, according to an Oct. 1 complaint in the U.S. District Court for the Southern District of New York. Moonves left CBS in early September amid an investigation into claims he sexually harassed over a dozen women.

The company had told investors that it “believes that the unique combination of skills and experience ...